Solana’s (SOL) ‘Uptrend Is So Strong’ as Key Support Continues to Hold: Here’s the Potential Target for This Week
Solana’s native cryptocurrency SOL is gearing up for an uptrend, according to Maximilian_FX, an analyst on the TradingView platform. In a recent post, the analyst highlighted the strength of SOL’s bullish momentum, suggesting that the $200 price level could be within reach by the end of this week.
Currently trading around $147, SOL has been consolidating after a trend change and a rally that pushed prices to the $157.12 resistance zone. Maximilian_FX notes that sellers are finding it increasingly difficult to hold back the uptrend’s force, as the bullish momentum continues to gain traction.
“Overall, we see a trend change, then the market moves into a consolidation phase and reaches $157.12,” the analyst stated. “Sellers have less and less chance to hold the resistance zone because the uptrend is so strong. According to statistics, the strongest fluctuations are after a breakthrough.”
The analyst’s assessment highlights the potential for significant price swings following a breakout, which could propel SOL’s value even higher.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Maximilian_FX emphasizes that as long as the $146.50 support level holds, a buying strategy remains preferred, especially on increasing trading volume. This suggests that traders and investors should closely monitor volume indicators for potential buy signals.
Explaining the potential upside target, the analyst predicts, “In the current scenario, as long as the $146.50 support level holds, a buying strategy remains preferred on a growing volume basis. It is predicted that by the end of this week, SOLUSDT will trade between $180.00 and $200.00 USD.”
As the market sentiment continues to improve, analysts like Maximilian_FX remain optimistic about the potential for further upside in high-performing cryptocurrencies like SOL.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
